A mortgage commitment letter is an important document that confirms the lender's intent to approve your application. Learn how it works and how to get one.

The Truth in Lending Act (TILA) is designed to protect borrowers from unfair lending practices through strict regulations. Here’s how it works and why it ...

A mortgage processor, or mortgage loan processor, gathers and reviews your financial documents and helps keep your mortgage moving smoothly toward closing.

Basis points are units of measurement that assess percentages. Learn how this financial tool can determine your mortgage cost and potential monthly changes.

What is compound interest, and how does it work? Learn more about how compound interest differs from simple interest and which financial products use it.

Real property refers to the rights of ownership that are attached to a property. Your real property rights can affect everything from privacy to leasing.

Wondering when mortgage rates will go down? It’s important to understand the factors that influence rates and how these factors lead to higher or lower ra...

Learn what amortization is and how an amortization schedule helps you understand how your monthly mortgage payment is applied to principal and interest.

Proof of funds can help you close on a home faster. If you’re buying with cash, you’ll almost certainly need this type of letter.

Annual percentage rate (APR) describes the total yearly cost of a mortgage. Learn how to calculate and compare favorable APRs while mortgage shopping.

Easements grant non-property owners limited access to a part of your property. Learn the different types of easements and how they can affect your property.<...

Mortgage protection insurance pays your mortgage if you die or become disabled. Learn how MPI works, what it covers, and whether it's right for you.

Fannie Mae is a government-sponsored enterprise that buys mortgages from lenders. It also determines conforming loan limits, which may impact your loan.

Many factors can determine whether you qualify for a mortgage. Learn what factors affect your mortgage qualification and how you can improve your chances.

A transfer tax is a one-time fee for transferring property ownership. Learn how transfer tax is assessed, state and local government rules, and how it works.

The mortgage principal is the amount you borrowed for your loan, while interest is the fee for use of the loan. Learn how each makes up your monthly payment.

The fair market value (FMV) of a home is defined primarily by how much someone would pay for it. Learn how...

Seller concessions are a way for home buyers to bring down their closing costs. However, concessions must be negotiated. Learn more about this process before yo...